Worthington Steel, Inc. (NYSE:WS) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in Worthington Steel, Inc. (NYSE:WS) by 153.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,255 shares of the company’s stock after acquiring an additional 759 shares during the period. GAMMA Investing LLC’s holdings in Worthington Steel were worth $43,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP bought a new position in shares of Worthington Steel during the 4th quarter valued at about $2,113,000. Fisher Asset Management LLC purchased a new position in Worthington Steel during the fourth quarter valued at approximately $2,563,000. Vanguard Group Inc. bought a new stake in Worthington Steel during the fourth quarter worth approximately $113,286,000. PNC Financial Services Group Inc. acquired a new position in Worthington Steel during the fourth quarter valued at approximately $857,000. Finally, Cardinal Capital Management bought a new position in shares of Worthington Steel in the first quarter valued at approximately $439,000. 45.41% of the stock is currently owned by institutional investors and hedge funds.

Worthington Steel Trading Up 3.4 %

Shares of Worthington Steel stock opened at $35.68 on Friday. The stock has a market capitalization of $1.80 billion and a price-to-earnings ratio of 14.39. Worthington Steel, Inc. has a 1-year low of $21.00 and a 1-year high of $41.01. The firm has a fifty day simple moving average of $33.69 and a 200-day simple moving average of $33.55.

Worthington Steel (NYSE:WS) last issued its quarterly earnings results on Wednesday, September 25th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. Worthington Steel had a return on equity of 12.14% and a net margin of 3.71%. The company had revenue of $834.00 million for the quarter, compared to the consensus estimate of $748.40 million. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. As a group, research analysts predict that Worthington Steel, Inc. will post 2.95 earnings per share for the current year.

Worthington Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.79%. Worthington Steel’s dividend payout ratio (DPR) is presently 25.81%.

Worthington Steel Company Profile

Worthington Steel, Inc operates as a steel processor in North America. It offers carbon flat-rolled steel and tailor welded blanks, as well as electrical steel laminations; and aluminum tailor welded blanks. The company serves various end-markets, including automotive, heavy truck, agriculture, construction, and energy.